By purchasing a nearly 50 percent stake in a construction firm, South Korean builder GS Engineering & Construction will invest in a massive petrochemical plant construction project in Turkey.
According to SSESSMENTS.COM, a contract signed by GS E&C with Ceyhan Petrokimya Endustriyel Yatrim on September 26. A 49 percent stake in the firm acquired by Ceyhan Petrokimya Endustriyel Yatrim. After the Turkish firm’s future project plans finalized, the value of the deal will be determined.
This investment enables GS E&C’s participation in CPEY’s Ceyhan PDH-PP (Propane De-Hydrogenation-Polypropylene) construction project. The construction of massive petrochemical plants in Adana, Turkey is included in the project.
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